The cosmetics company Alen Mak has covered the delayed payments on its bond issue, BSE announced, citing bond trustee Corporate Commercial Bank. In end-March the company defaulted on EUR 540m principal repayment and EUR 103m coupon.
The company has a 5-year, 3-mo EURIBOR+4.75%, quarterly payable, amortizing EUR 6.5m bond, maturing in June 2011. The outstanding principal is EUR 4.9m currently.